Turkmenistan, World Bank Discuss Private Sector Development

BUSINESS TURKMENISTAN
Turkmenistan, World Bank Discuss Private Sector Development
The meeting participants also discussed preparation of a new strategy for cooperation between Turkmenistan and the World Bank.

The Minister of Finance and Economy of Turkmenistan Muhametgeldi Serdarov held an online meeting with the World Bank Vice President for Europe and Central Asia Anna Bjerde. The meeting agenda included discussions on cooperation between Turkmenistan and the World Bank to support the development of the country's private sector.

Negotiations are currently underway between Turkmen specialists and the World Bank experts on the project, the cost of which is estimated at $100 million, to further develop the fruit and vegetable production in the country, the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET) said in its press release.

“For us, important areas of assistance are to support the export industries of Turkmenistan, develop a marketing policy and promote domestic products in foreign markets,” said Muhametgeldi Serdarov.

The Minister also expressed interest in paid consultation services of the World Bank experts in the cybersecurity field and modernization of the payment system.

The meeting participants also discussed preparation of a new strategy for cooperation between Turkmenistan and the World Bank and expanding partnership with the International Finance Corporation.

In August 2019, a Memorandum of Cooperation was signed between the Ministry of Finance and Economy of Turkmenistan and the International Finance Corporation (IFC).

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